Pricing my used vehicle for private sale

sebring95 · August 2010

Obviously you trust the guy so I'll digress...but it's worth more than $1,000 even with a bum engine. $500 is a joke. I just sold a '91 Ford Escort for $300 and it's been sitting behind my barn for several years after an accident.

I'll tell you what...I'll give you $1,200 for it sight unseen.

deltheking · August 2010

Just get an engine from a salvage yard or from used car parts online. Sorry,but the truth is your mechanic is trying to take you to the cleaners and make a windfall profit. Go to a different mechanic..And LC`s are very reliable- I would get an engine installed and keep driving it. You could get it for about 3k -that`s what I feel.

deltheking · August 2010

Here`s a link I found online by googling for 2 minutes-- engine prices 2000 or less from multiple dealers/vendors.Hope this helps.Type in your vehicle info and you can view the prices. [www.car-part.com]

link title

qbrozen · August 2010

Well, he wasn't going to sell it. He was going to give it to his wife to use.

Even then, the numbers just don't add up. Why pay $1k for the truck, $4k for an engine, and 20 hours labor (at his probably rate, that's $2k value) only to wind up with a $5k vehicle?

igozoomzoom · August 2010

My parents recently inherited a car from my grandmother. They've decided to keep it and sell their 2007 Ford Explorer....more accurately, they've asked me to sell the Explorer for them! :P

The Edmunds TMV and KBB Private Party values are very similar and they're actually a little higher than expected!? With options and mileage factored in, the Edmunds TMV is $16,125 (CLEAN condition) and KBB Private Party is $16,615 (GOOD condition).

The vehicle has a lot of miles for its age (just hit 110,000), but both of those appraisals account for the excessive mileage. Edmunds deducted $2,090 and KBB deducted just over $5,000, so the numbers were almost $4000 apart if the car had average mileage. I'm probably over-thinking this, but I expected more of a hit than $2090 on the Edmunds calcuation...

BTW, it's a 2007 Explorer Eddie Bauer, 2WD, 4.0L V6, Dark Cherry Metallic/Pueblo Gold two-tone w/ Camel Leather, 110k miles, VERY GOOD condition inside and out, serviced religiously (with records) and spotless vehicle history record. Options- Power, heated front seats & power adjustable pedals w/ memory; Audiophile 6-CD stereo; Dual-zone Auto AC; Rear A/C w/ aux. controls; Power Moonroof; Power Fold-flat 50/50 3rd Row seat and Rear Parking Sensors.

Is $16,500 a realistic asking price....or should I drop it just under the $16k mark ($15,950 or so)? I'll be happy with anything over $15k (that's the least I'll take)....

Any input is appreciated!

cccompson · August 2010

The deduction for high mileage on a late model vehicle is HUGE. KBB is closer to the mark here.

You have a double problem. Privately selling any late model vehicle can be difficult for a variety of reasons. Selling one with high miles is extra tough.

Suggest you take it a Carmax if there's one nearby. They likely will give you all the money for it.

Now, if you do try to sell it yourself, pricing it is merely a function of how long you want to fool with it. Personally, this sounds like a sub-15K unit to me.

explorerx4 · August 2010

i hope are selling this in the southern tier of the country. 2wd and 110k is a killer up north.

sebring95 · August 2010

I have found most pricing services to be WAY off when it comes to late-model high mileage vehicles. The reason is simple...there's not enough real-world sales of similar stats to compare. So what you get is a quote based on avg miles with a normal mileage deduct. The normal mileage deduct may work for typical late-model high mileage vehicles (say '07 with 70k-80k miles) but when you get into an anomaly like this...the numbers don't work. I too believe this is a sub $15k vehicle. If it was 4x4 it would be a different story because demand for late-model 4x4 is very strong even with high miles. You've also surpassed the age where these start chucking transmissions. We run a lot of explorers for work and chuck them around 80k miles. Sometimes we still get stuck with a transmission. A few months back we traded an '07 XLT 4x4 with 70k miles and transmission problems for $7k.

You can ask whatever you want though and just see what happens. You never know until you try but I'm going to say real-world private party....it's $13-14k.

kyfdx · August 2010

I'm definitely a NON-expert when it comes to putting a value on a used-car...

But 110K and 2WD? My guess is it won't clear $10K, no matter what...

gsemike · August 2010

My friend just got an Explorer with 34k and the tranny crapped out in under a month. I'm sorry but with how many off lease examples are out there and the still not stellar rep, 15 sounds really high.

houdini1 · August 2010

I have been looking at a 4 wheel drive 2002 Tacoma, 4 doors, 128,000 miles, v6 engine. The owner is a neighbor of mine and he has asked me to make him an offer.

He has owned the truck for about 5 years and it appears to be very well taken care of. I am thinking around $9,000 tops for a private sale. What do you guys think?

Any help would be appreciated !

stickguy · August 2010

this I would like to know, since I would love to find something like that truck. But, I was thinking more like 1/2 that price! So one of us must be delusional.

though, if it has a stick, I probably pay more!

deltheking · August 2010

That is way overpriced in MHO,Toyota or not. A brand new 2010 4dr Tacoma right now is selling for 18.6k which includes a $1000 rebate.. An 8yr old truck with 126k miles for 9k --- no way. And in general trucks are driven and used more roughly and harshly than regular cars plus lots of towing. No way I am paying 9k for that. :P

Used Dodge and Chevy trucks can be got for much much less than 9k easily especially the base models. The Ford Ranger used is dirt cheap and you can get a very new 2 0r 3 yr old one with very few miles for less than 9k easily.

The Tundra is a better value used than the Tacoma. Tacoma has the highest resale value in trucks. I personally would buy a used Tundra instead of a Tacoma. I have a base 2dr 2005 Tundra with auto tranny and boy , I love driving it more than my Lexus. No need for a truck for me, but in Texas,as they say,everyone has a truck !! :shades:

qbrozen · August 2010

Actually, you are right on the money. It is worth $7500 as a trade in my neck 'o the woods.

No way a new one is $18k. Maybe it is not comparable to this one. 4wd 4-doors... that's got an invoice of $24,500. TMV after $750 rebate is still $24k.

cccompson · August 2010

Used Tacos bring outrageous money and I think your $9000 tops is, in fact, not too far from what it could bring on the open market (depending on condition and options).

However, you're not talking about an open market sale here, but rather a neighbor who has asked you to make an offer.

Suggest you do just that, starting low. You can always go up if need be.

houdini1 · August 2010

Great input guys and thanks for all your comments. Even though a neighbor, he lives down the street and we are not all that well acquainted. I don't have a feel for what he is thinking at all. I would not be surprised if he would take $7500. or if he wants $15,000. I will let you all know what happens.

deltheking · August 2010

Sorry about that.Totally missed the 4wd 4dr part. Yes, I priced the 2wd 2dr truck. But yes,used Tacos are priced very high. Still I think an 8 or 9 yr old truck with 126k miles - I personally would not buy it. But Tacos have rock solid reliability. :shades:

Just a query . Does a similar Tundra have the same trade in value or atleast closer ? Thanks.

deltheking · August 2010

Whatever you do , let him make the first offer. Then you would get an idea of his expectations- whether he is highballing you or not !!

Good luck.

qbrozen · August 2010

Suprisingly big difference. I looked up an '02 Tundra 4-dr 4wd V6 with 128k miles.... $5500! So like 30% less than a comparable Tacoma. The V8 only adds about $250.

deltheking · August 2010

Oh Boy !! So the Tundra is cheaper than a Tacoma considering that it is much bigger and priced higher when new. So with that info , a Tundra is certainly a better value than the Tacoma especially the 4wd version. Used car values can sometimes certainly be so unpredictable and surprising !!

greg128 · August 2010

I would check the frame for rust. They are known for it.

deltheking · August 2010

And how did you forget SUA !! They are known for it too !! :sick:

houdini1 · August 2010

I got more hits by googleing chevrolet P.U. frame rust. Thanks for the tip.

sebring95 · August 2010

Keep in mind you're probably pricing a crew-cab Tacoma (4-door) to a typical ext-cab Tundra. Tundra did not come in a full crew-cab until 2004. I would bet model-for-model they're worth about the same which sort of makes sense....when I priced new in 2005 they were almost identical out the door. I bought the Tundra. Early Tundras also have a poor history with transmissions....so that's probably figured in there somewhere since 120k miles is doing pretty good for the '00-'02 models.

In my neck of the woods...4x4 means big money. Last winter I sold a rought '98 F-150 reg. cab 4x4, V6 auto with 130k miles for $4,500. Sold in one day for full asking price and I had about nine more calls before I could delete the craigslist ad. I obviously under-priced it but I like a fast easy cash sale. That '02 Tundra would bring $8-9k on an easy sale. Tacoma would be about the same maybe a little more.

sebring95 · August 2010

There's just slightly more Chevy pickups (and by slightly I mean a gawd awful more). I had a Tacoma and a Tundra and both had more rust than anything else I've owned in such a short period of time. Loved them for what they were... but Toyota just has issues in that regard. You'd be crazy not to take a peak under the back end just to have a look.

kyfdx · August 2010

Toyota actually had (has?) a program in place to buy back old Tacomas, due to rusted frames.. So, it's not just an idle comment, to say you should have a used one checked for that problem..

My wife's friend had a late '90s Taco with a boatload of miles, and they gave her a ridiculously high settlement for it... and, now she is driving a new RAV4!

Other than that one, admittedly major, problem.. Her 4WD, stick-shift Tacoma was bulletproof... (well..as long as the bullet didn't hit the frame..)

deltheking · August 2010

What a big scam this Toyota SUA was?? The Congress just wanted Obama Motors to increase it`s sales through this deceitful tactic. It`s been proved to be driver error. And frame rusts !! LOL !! Chevy must have had the most frame rust trucks ever ..

greg128 · August 2010

And frame rusts !! LOL !! Chevy must have had the most frame rust trucks ever ..

I haven't heard of GM replacing complete frames on 8 year old trucks at a cost of around $12,000 per vehicle, which is exactly what Toyota has been doing and contiues to do. They don't want the liability for parts falling off their frames and causing accidents. They also don't want people to come to the realization that
these trucks only have around a 10 year lifespan.

Around here there are loads of 15 year old and older (some much older) American
branded Pick ups still on the road. I don't see many old Toyotas.

greg128 · August 2010

I just got off a Tundra forum and the Toyota frame rust problem seems to be accelerating. Many are complaining about premature rust on trucks as new as 2006 model years. In addition to the Tacoma frame replacement program there is
also a Tundra Program. One poster commented that his Chevy Silverado had a much more substantial frame than his Tundra. I live in New York and have zero rust on my 2006 Silverado frame.

This is and will continue to be a major problem and a huge financial hit for Toyota.
If and when this hits the media in a big way Toyota is toast

Here is the forum:

http://www.tundraheadquarters.com/blog/2010/05/06/toyota-launches-00-03-tundra-f- rame-replacement-program/

houdini1 · August 2010

In those situations where rust is a problem, it sounds like Toyota is taking care of their customers by replacing the frame or buying back the truck.

I have no problem with that. What else would you want them to do?

qbrozen · August 2010

Keep in mind you're probably pricing a crew-cab Tacoma (4-door) to a typical ext-cab Tundra.

I was going to make that comment, but Galves still tells me its a 4-door.(?) I guess both sides in the rear have little suicide doors.(?)

houdini1 · August 2010

The 2002 Tacoma that I am looking at has full doors in the rear with outside hardware etc., not suicide doors.

sebring95 · August 2010

I was going to make that comment, but Galves still tells me its a 4-door.(?) I guess both sides in the rear have little suicide doors.(?)

Correct. Tundra only came in a "normal" extended cab with the suicide doors until 2004.

deltheking · August 2010

To those minute number of customers,Toyota is absolutely taking care by replacing or buying back for $12k. $12k-- That`s a lot of money for 8-10 yr old trucks. :shades:

GM has no funds to do that. They would again beg the Congress for money money if they had to buy back stating it is a safety issue concerning the American buyers. :sick:

And that will be the last post regarding these issues. Dont want to hijack this thread !

qbrozen · August 2010

Oh, I know the Taco has 4 full doors. That's how I priced it.

houdini1 · August 2010

Yeah, I can now see when you said suicide doors you were talking about the Tundra.

The guy still hasn't given me a price on the Tacoma. I assume he has changed his mind about selling so I am looking elsewhere.

igozoomzoom · October 2010

I have a '95 Jeep Grand Cherokee Laredo that my mom ordered new back in November 1994. She drove it for 11 years, then my dad used it for a few years before they gave it to me as a 'spare' three years ago. So, technically it's a one-owner as the title and registration have always been in my mom's name for the entire 16 years it has been in our family.

It has been very well maintained mechanically and has no known mechanical issues. Unfortunately, it has always been parked outdoors exposed to years of Georgia sun and hot/cold extremes. The clearcoat on the paint is peeling on the hood and roof in several spots and the lower body cladding and bumpers show some fading. The interior is in EXCELLENT condition - spotless cloth seats and carpet, dash and center console are in great shape...the only minor interior issues are the headliner, which is coming loose above the driver's side door and the leather steering wheel cover is cracking (a new cover is an easy fix).

It's 2WD, has the 4.0L Inline-6 and 4-speed automatic with 196,000 miles on it. The powertrain is all original and it doesn't use oil or smoke on start up, oil pressure is good and the tranny shifts same as always (oddly syrupy, but they all did). A/C blows cold, new Dayton tires 12k miles ago, radiator replaced last year and all maintenance up to date.

Options are probably meaningless on a car this old in terms of value, but I'll list the major ones anyway-
Infinity Gold CD stereo w/ amp
Dual power front seats (cloth)
Overhead console w/ compass & trip computer
Towing Pkg (beefier power steering pump, hi-capacity oil and trans fluid cooler)

I'm trying to figure out where to start the asking price??? The pricing guides are all over the map-
KBB- Private Party- Good cond- $2305 and Fair cond- $1780
NADA- Clean Trade-In- $1550 and Clean Retail- $3175
Edmunds TMV- Private Party- Average- $581 and Good- $988
TMV- Retail - Average- $1257 and Good- $1936

The KBB price range is exactly what I had in mind before I checked any of them. I was thinking about asking $2300 (or maybe even $2500) and sell it for at least $2000 (with a bottom dollar of $1800)....input?

stickguy · October 2010

if it does run well like you indicate, i would shoot higher. 4K might be a bit much, but I would ask at least $2,995, and figure to get something close.

at least selling a well used car is an example of feedback telling you your answer. Put the ad in, and if you get no hits for a few days, too high. If you get bombarded with calls/emails immediately, too low!

qbrozen · October 2010

Ummm... hate to be the one to say it, but I think Edmunds private party is much more accurate on this one than the others. Exterior is in poor shape, sagging headliner, and the real kicker ... 200k miles! It has exceeded its life expectancy. What's more ... its 2wd and the 6-cyl. There is nothing desirable here. Maybe I'm too pessimistic, but you should be pleased to get a grand for it.

sebring95 · October 2010

I think you're on the right path with your pricing. Might be a tad high but in that ballpark....I'd say $1,500 bottom dollar if it's as good mechanically as you say. Pretty much anything decent that runs is pushing $1,000 these days so I think Edmunds is low on their pricing. Straight-six is desirable....they run for 300k miles easily. I sold a barely running, smashed up '89 Ford Escort without a title for $500 awhile back.

jproc · October 2010

several years ago I sold a 15 year old Chrysler Lebaron convert for $ 500.Head gaskets needed replacing as did the radiator. (Buyer knew this)So I would think a running car should be worth at least 1500-2000.Good luck

houdini1 · October 2010

Well, after 2 months I finally bought that Tacoma from my neighbor. Ended up paying $10,200. I know that sounds like a lot for a 8 year old truck but the Edmund's appraisal guide shows $11,349. for a private sale, and the truck is in fantastic condition. If you recall, it is a 4 door 4X4 v6 with 129,000 miles.

I checked out the rust issues because I have heard people say that even though Toyota is replacing frames on some trucks, some owners say the truck is never the same after replacement. This truck has practically no rust at all. I also had the local Toyota dealer check it out. Their only suggestion was new front brakes and rotors, which I have had done.

Turns out his hesitation was because his wife did not want to sell the truck but she finally relented. It wasn't a great deal for me but it was a fair deal for both of us.

qbrozen · October 2010

they run for 300k miles easily.

If you guarantee that, I'm sure it will be an easy sell. :P

Then again, you'd probably never have to make good on it because it is still attached to that auto trans that will probably give up the ghost long before the engine and the whole thing is junkyard fodder anyway.

sebring95 · October 2010

There's a ton of regular cherokees with that engine and they're hooked to a stout Aisin box that will go the distance. The Chrysler slushbox in the Grand is a different story so you may be correct in that regard. Although I've seen them with gobs of miles as well. We sold my wife's '99 grand V8 ltd with 200k to my cousin back in '04 and he's still driving it. Last time I was in it it was approaching 300k and was starting to look pretty rough...but not bad. Surprised the painted mud guards still looked good and the dealer swore the paint would never hold up because they were so flexible!

suydam · October 2010

The kicker is indeed the high miles. It doesn't matter what it looks like. You'll be lucky to get a grand for it. You might get more on a coast where prices are higher but in the midwest or south I don't think so. Your typical buyer will be looking for a beater and they'll want it cheap. The vehicle has had good use for your family. Let it go.

oldfarmer50 · October 2010

196000 miles? Yikes! Take the Edmunds price and run like a thief. Either that or be prepared to endure a long sales process filled with low-ballers and insults. It will take a while for that one Jeep lover to be blind to the milage.

NOTE: You people in Georgia really like your Jeeps! Atlanta Craigslist is full of them for crazy money. Most 4X4's of you vintage are asking $1500-2000 which is way more than they are asking where I live up north. Of course you'd have to factor your 2WD as worth less.

sebring95 · October 2010

Not sure where you are oldfarmer but here in Ohio (north by my standards) any running 4x4 will bring $1,500-$2,000. My company has about 100 trucks and I do a lot of buying and selling. Mainly buy new trucks and sell very well used stuff. I'm always amazed at what we can get out of a totally beat up 4x4 truck. Sold an '01 F-150 last year that was completely rusted out. It had been in a limestone quarry and the bed was gone, seat was unsafe to sit on, tires bald, filthy dirty inside, and 150k very hard miles. Sold for $1,500 within hours of listing on CL.

oldfarmer50 · October 2010

"... amazed at what we can get..."

Maybe it's just my area but Jeeps as the OP described go for maybe $1000 in upstate NY (at least on Craigslist). Jeeps have a loyal following and who knows, maybe he could get $2000 or more if the right buyer comes along. One thing I didn't consider is that being a southern car it wouldn't have the rust that an old northern car has. That might make all the difference. He can always drop the price.

To me a vehicle with 200K miles is just a repair bill waiting to happen and I would never pay much for one.

qbrozen · October 2010

Not sure where you are oldfarmer but here in Ohio (north by my standards) any running 4x4 will bring $1,500-$2,000.

But in reference to the OP's cherokee, it ain't 4x4, which is (1 reason) why it is virtually worthless, IMHO. At least with 4wd, someone can make a toy out of an old miled up truck, so it has SOME value, I agree.

sebring95 · October 2010

But in reference to the OP's cherokee, it ain't 4x4, which is (1 reason) why it is virtually worthless, IMHO. At least with 4wd, someone can make a toy out of an old miled up truck, so it has SOME value, I agree.

You quoted my response to Oldfarmers astonishment that jacked 4x4's were selling $1,500-2,000 in ATL. I believe we already covered the OP's 2wd vehicle which is still far from worthless in my book particularly in ATL. Granted I've left bigger tips than the difference in our disagreement...but worthless is just such a bad number.

Pricing my used vehicle for private sale

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